JAKARTA: Transaction volume of corporate sharia securities soared 54% to IDR1.41 trillion in the first half of 2011 from IDR915 billion in the same period of last year.Based on data of Indonesia Stock Exchange, the growth of corporate sharia securities (sukuk) was higher than growth of corporate bonds by 32% to IDR56.02 trillion from IDR42.47 trillion.In line with the transaction volume growth, the corporate sukuk had contributed higher for total transaction volume of conventional and sharia bonds to 2.45% from 2.1% in the same period of last year.The higher transaction volume of corporate sukuk was donated by growing market demand for such bonds, as viewed by an analyst of PT Panin Sekuritas Benyamin Siahaan.However, there is still lack of sukuk availability because only several companies are able and have interest to issue sukuk considering on more complicated issuance procedure of sukuk.Nevertheless, corporate sukuk contribution against bonds transaction is still low. But considering on existing market demand, the transaction volume of sukuk may stand at IDR4 trillion in the first half of 2011.Based on Indonesia Stock Exchange data, totally the transaction volume of government bonds (SUN) grew by 21% to IDR901.93 trillion, while transaction volume of corporate bonds, sukuk, and asset-backed securities rose by 33% to IDR43.39 trillion in the first half of 2011.YieldsToday, the bond market has attracted higher interest of companies, because of relatively lower yield, stable inflation condition, relatively low interest rate.In addition, now Indonesias bond rating will be potentially upgraded to be a great investment destination. So, Indonesia will be more potential to be alternative investment destination for foreign investors.I am optimistic for the bond market in the second half to still bullish with various positive sentiments, in a term of investment grade and stable inflation rate, he said. (18)(t01/msw)

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